NEW YORK CITY – Wharton Properties has acquired 166 Berry St. inthe Williamsburg submarket of Brooklyn for $20 million, or $3,226per-square-foot, in what is a record-setting transaction for theneighborhood. "The sale reinforces Williamsburg as a strongsubmarket that local and national retailers want to be," ThomasDonovan, a partner at B6 Real Estate Advisors who arranged thetransaction, tells GlobeSt.com.
Wharton, a real estate-focused developer, broughtthe 6,200-square-foot property from Avi Kendi, owner ofthe metal fabricator shop Metal Dimensions that currently occupiesthe building in what is a busy retail corridor in thesubmarket.
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